A PROJECT REPORT On Create Awareness of Banks Product offered by ING-Vysya Bank in Amritsar (13th May 8th July)

Submitted By: Shekhar Malhotra

ACKNOWLEDGMENT
The satisfaction Euphoria that accompanies the successful completion of any work would be incomplete unless we mention the name of the person, who made it possible, who constant guidance and encouragement served as a beckon of light and crowned our efforts with success. I consider it a privilege to express through the pages of this report, a few words of gratitude and respect to those who guided and inspired in the completion of this project. I am deeply indebted to Mr. Mohit Sekhri (Branch Head) for giving me the opportunity to undergo my project in their esteemed organization and their timely suggestions & valuable guidance. I also want to give thanks to Mrs. Anju Joshi (Sales Manager). They constantly encouraged me and showed the right path from day first till the completion of my project. I had visited almost all markets of Amritsar and collected information of the project. I have also done promotional activities under the constant guidance of my project guide. In the last but not the least, my grateful appreciation is also extended to Prof. Paramjit Kaur
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(Head of Summer Placements), Dr. Navdeep Kaur (CoCoordinator Placement Department). However, I accept the sole responsibility for any possible errors of omission and would be extremely grateful to the readers of this project report if they bring such mistakes to my notice. Shekhar Malhotra

Preface
Decision-making is a fundamental part of the research process. Decisions regarding that what you want to do, how you want to do, what tools and techniques must be used for the successful completion of the project. In fact it is the researchers efficiency as a decision maker that makes project fruitful for those who concern to the area of study. Basically when we are playing with computer in every part of life, I used it in my project not for the ease of my but for the ease of result explanation to those who will read this project. The project presents the role of financial system in life of persons. I had toiled to achieve the goals desired. Being a neophyte in this highly competitive world of business, I had come across several difficulties to make the objectives a reality. I am presenting this hand carved efforts in black and white. If anywhere something is
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found not in tandem to the theme then you are welcome with your valuable suggestions.

DECLARATION
I hereby declare that the project entitled Create Awareness of Banks Product offered by INGVysya Bank in Amritsar submitted in partial fulfilment of the requirements for the Post Graduate Program in MASTERS OF BUSINESS ADMISNISTRATION is my original work and submitted for the award of degree. An attempt has been made by me to provide all relevant and important details regarding the topic to support the theoretical edifice with concrete research evidence. This will be helpful to clean the fog surrounding the various aspect of the topic. I hope that this project will be beneficial for the Organization.

Place: Amritsar (Shekhar Malhotra)

Batch: 2012-2014

TABLE OF CONTENTS
S.NO 1 2 3 4 5 6 TOPIC

7 8 9 10

Company Overview Origin of ING Group Company Profile Mission New Identity Milestones in the journey of ING-VYSYA bank Balance-sheet Profit & Loss Account Board of Directors Synopsis
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PAGE NO. 6 7 8 8 8 9

11 13 15 19

11 13 14 15 16 17 18 19 20 21

Products Executive Summary Introduction of Banking Industry Training session on Selling Skills KYC Research methodology Analysis of Data Conclusions & Recommendations Questionnaire Bibliography

20 40 41 49 52 53 71 77 78 86

COMPANY OVERVIEW
ING Vysya Bank Ltd is a premier private sector bank with retail, private and wholesale banking platforms that serve over two million customers. With 80 years of history in India and leveraging INGs global financial expertise, the bank offers a broad range of innovative and established products and services, across its 542 branches. The bank, which has close to 10,000 employees, is also listed in Bombay Stock Exchange Limited and National Stock Exchange of India Limited. ING Vysya Bank was ranked among top 5 Most Trusted Brands among private sector banks in India in the Economic Times Brand Equity Neilsen survey 2011.

The bank was formed from the 2002 acquisition of an equity stake in Indian Vysya Bank by the Dutch ING Group. This merger marked the first between an Indian bank and a foreign bank. Prior to this transaction, Vysya Bank had a seven-year old strategic alliance with erstwhile Belgian bank Banque Bruxelles Lambert, which was also acquired by ING Group in 1998.

The origin of ING Group

On the other hand, ING group originated in 1990 from the merger between Nationale Nederlanden NV the largest Dutch Insurance Company and NMB Post Bank Group NV. Combining roots and ambitions, the newly formed company called Internationale Nederlanden Group. Market circles soon abbreviated the name to IN-G. The company followed suit by changing the statutory name to ING Group N.V.

Profile
ING has gained recognition for its integrated approach of banking, insurance and asset management. Furthermore, the company differentiates itself from other financial service providers by successfully establishing life insurance companies in countries with emerging economies, such as Korea, Taiwan, Hungary, Poland, Mexico and Chile. Another specialization is ING Direct, an Internet and Direct marketing concept with which
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ING is rapidly winning retail market share in mature markets. Finally, ING distinguishes itself internationally as a provider of employee benefits, i.e. arrangements of non-wage benefits, such as pension plans for companies and their employees.

Mission
ING`s mission is to be a leading, global, client-focused, innovative and low-cost provider of financial services through the distribution channels of the clients preference in markets where ING can create value.

The immediate benefit to the bank, ING Vysya Bank, has been the pride of having become a Member of the global financial giant ING. As at the end of the year December 2008, ING's total assets exceeded 13.31 billion euros, employed over 125000 people, served over 85 million customers, across 50 countries. This global identity coupled with the backup of a financial power house and the status of being the first Indian International Bank, would also help to enhance productivity, profitability, to result in improved performance of the bank, for the benefit of all the stake holders.

The New Identity

Milestones in the long journey of Bank

1930 1948 1985 1987 1988 1990 1992 1993 1996

1998

2000 2001 2002

2002

Set up in Bangalore Scheduled bank Largest private sector bank The Vysya Bank Leasing Ltd .Commenced Pioneered the concept of Co branding of credit Cards Promoted Vysya Bank Housing Finance Ltd. Deposits cross Rs.1000 crores Number of branches crossed 300 Signs Strategic Alliance with BBL.,Belgium. Two National Awards by Gem & Jewellery export Promotion council for excellent performance in export promotion. Cash Management Services & commissioning of VSAT. Golden Peacock Award-for the best HR Practices by Institute of Directors. Rated as Best Domestic Bank in India by Global Finance(International Financial Journal-June 1998) State-of-the-art Date Centre at ITPL, Bangalore. RBI clears setting up of ING Vysya Life Insurance Company ING-Vysya commenced life insurance business. The Bank launched a range of products & services like the Vys Vyapar Plus, the range of loan schemes for traders, ATM services, Smartserv, personal assistant service, Save & Secure, an account that provides accident hospitalization and insurance cover, Sambandh, the International Debit Card and the mi-bank net banking service. ING takes over the Management of the Bank
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2002 2003

2004 2005 2006

from October 7th , 2002 RBI clears the new name of the Bank as ING Vysya Bank Ltd, vide their letter of 17.12.02 Introduced customer friendly products like Orange Savings, Orange Current and Protected Home Loans Introduced Protected Home Loans - a housing loan product Introduced Solo - My Own Account for youth and Customer Service Line Phone Banking Service Introduced Solo - My Own Account for youth and Customer Service Line Phone Banking Service

Balance sheet of ING- VYSYA Bank Ltd.

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for the year ended 31 March 2013

Standalone Balance Sheet Mar '13 ------------------- in Rs. Cr. ------------------Mar '12 Mar '11 Mar '10 Mar '09

12 mths 12 mths 12 mths 12 mths 12 mths Capital and Liabilities: Total Share Capital Equity Share Capital Share Application Money Preference Share Capital Reserves Revaluation Reserves Net Worth Deposits Borrowings Total Debt Other Liabilities & Provisions Total Liabilities

154.85 154.85 0.89 0.00 4,471.06 0.00 4,626.80 41,334.0 0

150.12 120.99 119.97 150.12 120.99 119.97 1.59 1.88 2.99 0.00 0.00 0.00 2,397.1 2,099.9 3,724.64 9 4 103.44 104.23 108.02 2,624.2 2,330.9 3,979.79 9 2 35,195.4 30,194. 25,865. 2

102.60 102.60 4.47 0.00 1,487.0 5 108.77 1,702.8 9 24,889.

6,511.26 5,696.49

25 30 92 4,146.9 3,671.3 2,152.4

1 9 2 47,845.2 40,891.9 34,341. 29,536. 27,042. 6 1 16 69 34 2,048.5 2,012.6 3,111.7

2,364.39 2,128.84

3 4 5 54,836.4 47,000.5 39,013. 33,880. 31,856. 5 Mar '13 4 98 25 98 Mar '12 Mar '11 Mar '10 Mar '09

12 mths 12 mths 12 mths 12 mths 12 mths

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Assets Cash & Balances with RBI Balance with Banks, Money at Call Advances Investments Gross Block Accumulated Depreciation Net Block Capital Work In Progress Other Assets Total Assets 1,944.72 1,982.37 2,183.7 2,329.5 1,791.0 8 9 2

888.75 1,248.19 337.64 697.46 491.23 31,772.0 28,736.6 23,602. 18,507. 16,750. 3 7 14 19 93 18,278.2 12,715.5 11,020. 10,472. 10,495. 3 0 67 1,020.2 92 54

499.60 1,067.52 0.00 499.60 0.00 1,453.12 54,836.4 5

0 577.31 530.94 490.21 489.26 10.58 13.58 1,366.9 1,817.01 1 47,000.5 39,013. 3 98

773.73 754.09 485.40 288.33 207.60 1,377.1 468.77 285.32 151.88 1,891.0

5 7 33,880. 31,856. 24 99

Contingent Liabilities Bills for collection Book Value (Rs)

119,678. 120,788. 57,030. 72,851. 38,734. 05 43 09 44 68 5,334.2 4,570.4 4,303.0

8,327.06 7,159.97 298.73

0 3 0 258.10 208.14 185.04 154.93

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Profit & loss account of INGVYSYA Bank Ltd.

Standalone Profit & Loss Account ------------------- in Rs. Cr. ------------------Mar '13 12 mths Income Interest Earned Other Income Total Income Expenditure Interest expended Employee Cost Selling and Admin Expenses Depreciation Miscellaneous Expenses Preoperative Exp Capitalised Operating Expenses Provisions & Contingencies Total Expenses Mar '12 12 mths Mar '11 12 mths Mar '10 12 mths Mar '09 12 mths

4,861.58 3,856.81 2,694.06 2,232.89 2,239.89 726.88 669.76 654.96 620.22 547.67 5,588.46 4,526.57 3,349.02 2,853.11 2,787.56 3,322.95 2,648.46 1,687.54 1,403.05 1,590.27 750.69 651.03 605.66 428.85 392.22 0.00 261.56 308.91 374.15 231.68 50.97 49.81 47.73 40.96 40.82 850.88 459.40 380.54 363.87 343.78 0.00 0.00 0.00 0.00 0.00 1,272.81 1,190.94 1,182.12 1,037.72 878.80 379.73 230.86 160.72 170.11 129.70 4,975.49 4,070.26 3,030.38 2,610.88 2,598.77 Mar '13 Mar '12 Mar '11 Mar '10 Mar '09 12 mths 12 mths 456.30 12 mths 318.65 12 mths 242.22 12 mths 188.78

Net Profit for the Year

612.96

Profit brought forward Total Preference Dividend Equity Dividend Corporate Dividend Tax Per share data (annualised) Earning Per Share (Rs) Equity Dividend (%)

765.45 1,378.41 0.00 85.17 13.82 39.58 55.00

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517.46 973.76 0.00 68.71 10.90 30.40 40.00

330.22 648.87 0.00 36.30 5.89 26.34 30.00

206.53 448.75 0.00 29.99 5.10 20.19 25.00

103.53 292.31 0.00 20.52 3.49 18.40 20.00

Book Value (Rs) Appropriations Transfer to Statutory Reserves Transfer to Other Reserves Proposed Dividend/Transfer to Govt Balance c/f to Balance Sheet Total

298.73 170.65 0.00 98.99 1,108.77 1,378.41

258.10 128.71 -0.01 79.61 765.45 973.76

208.14 89.22 0.00 42.19 517.46 648.87

185.04 83.45 -0.01 35.09 330.22 448.75

154.93 61.77 0.00 24.01 206.53 292.31

Board of Directors

1. ARUN THIAGARAJAN- CHAIRMAN

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2. SHAILENDRA BHANDHARI- M.D.

3. SANTOSH DESAI-

INDEPENDENT DIRECTOR

4. SANJEEV AGA-

INDEPENDENT DIRECTOR

5. VIKRAM TALWAR-

INDEPENDENT
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DIRECTOR

6. MVS APPA RAO-

CORPORATE

SECRETARY

7. LARS KRAMER-

DIRECTOR

8. MELEVEETILDAMODARAN

DIRECTOR

17

9. PETER STAAL-

DIRECTOR

10. RICHARD COX-

DIRECTOR

11. VAUGHN NIGEL-

DIRECTOR

12. MARK NEWMAN-

DIRECTOR

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Synopsis
Title - Awareness of ING-VYSYA in Amritsar. Objective - To do the market analysis of the Amritsar city and to make aware the people of Amritsar about ING Bank. Null Hypothesis (H0)-ING Bank is not better than other banks present in Amritsar. Alternate Hypothesis (H1)-ING Bank is better than other banks present in Amritsar.

Data Collection
1- Questionnaire filled by a) Existing customers of ING in Amritsar. b) New customers who are not associated with ING in Amritsar.
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Research Design Problem identification Data collection related to awareness of ING in Amritsar. Sampling Technique Convenience sampling It is purposive or non-probability sampling. This sampling method involves deliberate or purposive selection of particular units of the universe

for consulting a sample, which represents the universe and when elements are selected for inclusion in the sample based on the ease of access, it is called convenience sampling. Research technique Conclusive research This type of research helps in reaching certain conclusions and also in taking decisions.

Products offered by Ing Vysya Bank

ACCOUNTS AND DEPOSITS Savings Account The Savings accounts are primarily meant to inculcate a sense of saving for the future and take care of individuals day to day banking requirements. These accounts are meant to help individual customers protect
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their money. The Savings Accounts also help individuals to handle their financial transactions through a systematic banking channel. This increases the safety as customers need not carry physical cash with them.

A few concepts about the Savings Accounts are explained below: 1. Quarterly Average Balance (QAB) - The sum of end of day balances for a quarter (90 days) are taken and divided by the number of days in the quarter (90). The resultant value is the quarterly average balance for that quarter. (90 days/ 3 months). 2. Service Charge for non-maintenance of Quarterly Average Balance (QAB) - Where the quarterly average balance is not maintained in the account, there is a service charge applicable as per the product features. 3. Interest on deposits held in Savings Bank Accounts The interest payable on a Savings Bank account is regulated and prescribed by the Reserve Bank of India. It is the same across all Scheduled Commercial
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Banks and is currently at 3.5 % per annum. 4. Interest Calculation on deposits held in Savings Bank Accounts - The interest on deposits held in a Savings Bank account is calculated based on a daily product basis. 5. Interest Disbursement - Savings Bank interest is credited to the customer's savings account twice a year at half yearly intervals on 30th, September and 31st, March of each financial year.
6.

Interest earned on Savings accounts is exempted from Tax deduction at source, for resident Indians.

7. Certain banking terminologies related to a Savings account: a). D.D - Demand Draft. (Instrument where, the funds are paid out, On Demand, issued outside location of the branch) b). P.O - Pay order. (Instrument where, On Demand, the funds are paid out, Local) c). PAP Cheques - Payable at Par Cheques / Multi-city cheques.
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d). RTGS - Real Time Gross Settlement. (Transfer of funds electronically. Value > 1 lakh) e). NEFT - New Electronic Fund Transfer. (Transfer of funds electronically. Value < 1 Lakh) ACCOUNTS A) ORANGE SAVINGS KEY FEATURES Unlimited Transactions across all ATMs Unlimited usage of PAP cheques with auto re-order Daily ATM withdrawal limit is 40,000 Free DDs : 2 DDs upto Rs.50000 per year

AAA Cash Deposits-SELF : 2 Free Transactions upto Rs.50,000 per month Surcharge waiver across all petrol pumps No 1% Cash back on Shopping International Debit Card is Rs.200

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 SMS Alerts Rs.10/- per month Non-Maintenance of QAB is Rs.750+s.t. ICV Cheque(minimum) is Rs.11000/6000 Mobile Banking @ Rs.120 p.a. QAB Rs.10000/5000 Internet Banking-free Phone Banking-FreeB) ZWIPE METRO ACCOUNT KEY FEATURES Unlimited Transactions across all ATMs Unlimited usage of PAP cheques with auto re-order

Daily ATM withdrawal limit is Rs.75000 Free DDs :10 DDs upto Rs.5 lacs per month AAA Cash Deposit-SELF : 2 free transactions upto Rs.50000 per day Surcharge waiver across all petrol pumps

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 No 1% Cash back on Shopping Discount On locker fees is 25% International Debit Card is Rs.250 SMS Alerts Rs.10/- per month E-Bill payment service Internet Banking-free Phone Banking-Free Mobile Banking @ Rs.120 p.a. QAB : Rs.25000 Non-Maintenance of QAB : Rs.750+s.t.
ICV Cheque(minimum) : Rs.26000

C) ZWIPE CLASSIC ACCOUNT KEY FEATURES Unlimited Transactions across all ATMs Unlimited usage of PAP cheques with auto re-order
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 Daily ATM withdrawal limit is Rs.75000 Free DDs :10 DDs upto Rs.5 lacs per month AAA Cash Deposit-SELF : 2 free transactions upto Rs.50000 per day Surcharge waiver across all petrol pumps No 1% Cash back on Shopping Discount On locker fees is 25% International Debit Card is Rs.250 SMS Alerts Rs.10/- per month E-Bill payment service Internet Banking-free Phone Banking-Free

D) PLATINA ACCOUNT KEY FEATURES Unlimited Transactions across all ATMs Unlimited usage of PAP cheques with auto re-order
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 Daily ATM withdrawal limit is Rs.150000 Free DDs :5 DDs upto Rs.1 lac per month AAA Cash Deposit-SELF : 2 free transactions upto Rs.50000 per month Surcharge waiver across all petrol pumps 1% Cash back on Shopping Discount On locker fees is 50% International Debit Card is Free for lifetime SMS Alerts : Free E-Bill payment service Internet Banking-free Phone Banking-Free Mobile Banking @ Rs.120 p.a. QAB : Rs.100000 or monthly TRV of Rs. 10 lacs Non-Maintenance of QAB : Rs.1000+s.t. ICV Cheque(minimum) : Rs.100000

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E) ZING ACCOUNT KEY FEATURES NO Unlimited Transactions across all ATMs Unlimited usage of PAP cheques with auto re-order Daily ATM withdrawal limit is Customizable limit Free DDs : Not Applicable AAA Cash Deposit-SELF : 2 free transactions upto Rs.50000 per month Surcharge waiver across all petrol pumps No 1% Cash back on Shopping Discount On locker fees : No International Debit Card is Rs.150 SMS Alerts : Free E-Bill payment service : No Internet Banking-free : View Access

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 Phone Banking-Free Mobile Banking @ Rs.120 p.a. : View Access QAB : Rs.2500

Non-Maintenance of QAB : Rs.200+s.t. ICV Cheque(minimum) : Rs.3000

F) ASPIRA SALARY ACCOUNT KEY FEATURES NO Unlimited Transactions across all ATMs Unlimited usage of PAP cheques with auto re-order Daily ATM withdrawal limit is Rs.75000 Free DDs : 2 DDs upto Rs.25000 per month AAA Cash Deposit-SELF : 2 free transactions upto Rs.50000 per month Surcharge waiver across all petrol pumps

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 No 1% Cash back on Shopping Discount On locker fees : No International Debit Card is Life time Free SMS Alerts : Free E-Bill payment service Internet Banking-free Phone Banking-Free

QAB : Zero Non-Maintenance of QAB : Zero ICV Cheque(minimum) : nil CURRENT ACCOUNTS KEY FEATURES Free remittance limit (DD/ PO/ RTGS/ EFT/ NEFT) of Rs. 50 lakhs p.m.; power packed features with potential to save upto Rs.1.20 lakhs p.a.
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 Free collection of outstation cheques Drawn on ING locations. Free unlimited payable at par Cheque payments. Free unlimited transfer of funds within the Bank. Free easy anywhere cash deposit up to a specified limit and withdrawal. Free issue of personalized cheque books and personalized payable at par cheques Free SMS alerts

Free standing instructions facility for regular payments

Free ATM cum debit card with access to any ATM, of any bank

Avail safe deposit locker facility (where available) on a preferential basis.

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 Free usage of ATMs network: The international debit cards provides for unlimited usage in ING ATMs. Cheque pick up facility at select locations GENERAL CURRENT ACCOUNT KEY FEATURES QAB- Rs.10000 Base location cash deposit for self and third party combined- Rs. 1 lakh p.m. ; Rs. 4/- per 1000 AAA cash deposit- chargeable @ Rs. 4.5/- per 1000 Free Remittance limit- charges applicable Free PAP cheque leaves p.m.- charges applicable Daily ATM withdrawal limit- Rs.50000 AAA cash withdrawal- Self free and unlimited AAA cash withdrawal- third party- maximum Rs.50000 per day

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 International Debit Card- Rs. 150 Doorstep Banking- Rs.150 for upto 2L ; Post that Rs.25 per lakh Net Banking- free SMS alerts- Rs.10/- per month E-Bill payment service Non-Maintenance of QAB- 750+s.t. COMFORT CURRENT ACCOUNT KEY FEATURES QAB- Rs.25000 Base location cash deposit for self and third party combined- Rs.2.5 lakh p.m. ; Rs. 3.5/- per 1000 AAA cash deposit- chargeable @ Rs. 4/- per 1000

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 Free Remittance limit- 25 lakhs per month Free PAP cheque leaves p.m.- 100 Daily ATM withdrawal limit- Rs.75000 AAA cash withdrawal- Self free and unlimited

AAA cash withdrawal- third party- maximum Rs.50000 per day International Debit Card- Rs. 150 Doorstep Banking- Rs.150 for upto 2L ; Post that Rs.25 per lakh Net Banking- free SMS alerts- Rs.10/- per month E-Bill payment service

Non-Maintenance of QAB- 1000+s.t.

ADVANTAGE CURRENT ACCOUNT

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KEY FEATURES QAB- Rs.50000 Base location cash deposit for self and third party combined- Rs. 7.5 lakh p.m. ; Rs. 3/- per 1000 AAA cash deposit- chargeable @ Rs. 3.5/- per 1000 Free Remittance limit- Rs. 50 lakh p.m. Free PAP cheque leaves p.m.- 100 Daily ATM withdrawal limit- Rs.100000

AAA cash withdrawal- Self free and unlimited AAA cash withdrawal- third party- maximum Rs.50000 per day International Debit Card- Rs. 150 Doorstep Banking- Rs.150 for upto 2L ; Post that Rs.25 per lakh
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 Net Banking- free SMS alerts- Rs.10/- per month E-Bill payment service

Non-Maintenance of QAB- 1500+s.t.

ORANGE CURRENT ACCOUNT KEY FEATURES QAB- Rs.100000 Base location cash deposit for self and third party combined- Rs. 15 lakh p.m. ; Rs. 2.5/- per 1000 AAA cash deposit- chargeable @ Rs. 3/- per 1000 Free Remittance limit- Rs. 2 crore p.m. Free PAP cheque leaves p.m.- 300

Daily ATM withdrawal limit- Rs.100000

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 AAA cash withdrawal- Self free and unlimited AAA cash withdrawal- third party- maximum Rs.50000 per day International Debit Card- Rs. 150 Doorstep Banking- Rs.150 for upto 2L ; Post that Rs.25 per lakh Net Banking- free SMS alerts- Rs.10/- per month E-Bill payment service

Non-Maintenance of QAB- 4000+s.t.

PLATINA CURRENT ACCOUNT KEY FEATURES QAB- Rs.500000 Base location cash deposit for self and third party combined- Rs. 75 lakh p.m. ; Rs. 2.5/- per 1000 AAA cash deposit- For SELF-FREE 10 lakh p.m. ; not more then 1L per day and for THIRD PARTY37

Free Rs. 5 lakh p.m. ; maximum Rs. 50000 in 1 transaction.

Free Remittance limit- DD- Rs. 1 crore per day ; RTGS/ NEFT- unlimited free Free PAP cheque leaves p.m.- 500 Daily ATM withdrawal limit- Rs.200000 AAA cash withdrawal- Self free and unlimited AAA cash withdrawal- third party- maximum Rs.50000 per day International Debit Card- free for lifetime-platina status maintained Doorstep Banking- Rs.150 for upto 2L ; Post that Rs.25 per lakh Net Banking- free SMS alerts- free E-Bill payment service
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Non-Maintenance of QAB- 4500+s.t. FLEXI CURRENT ACCOUNT KEY FEATURES QAB- MAB- Rs.50000

Base location cash deposit for self and third party combined- 12 times MAB maintained ; Rs.2.5/- per 1000 AAA cash deposit- chargeable @ Rs. 3.5/- per 1000 Free Remittance limit- Free upto 100 times actual MAB maintained Free PAP cheque leaves p.m.- 100 free p.m.+ 100 more per additional 1 lakh MAB maintained ; maximum 1000 free in a month Daily ATM withdrawal limit- Rs.100000 AAA cash withdrawal- Self free and unlimited
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 AAA cash withdrawal- third party- maximum Rs.50000 per day International Debit Card- Rs. 150 Doorstep Banking- Rs.150 for upto 2L ; Post that Rs.25 per lakh Net Banking- free SMS alerts- Rs.10/- per month E-Bill payment service

Non-Maintenance of QAB- 500+s.t.

FIXED DEPOSITS KEY FEATURES Tenor based Rate of Interest Higher interest can be earned on longer period of deposits. Premature withdrawal is allowed at a nominal penalty of 1% on the applicable rate.

Option to place deposits in multiples of Rs.1000 as units under Vysunits , enabling withdrawal as per need, in multiples of Rs.1000.
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 Option to draw interest by way of DD / PO / Credit to own SB account with ING Vysya Bank, Monthly (at a discount) or Quarterly, as per choice. Loans upto 95% of the deposit would be available at 2% above the underlying interest rate on Fixed Deposit. Nomination facility is available. Free transfer of deposit between branches is available. Automatic renewals on maturity. Option of quarterly interest or monthly interest payment is available on these deposits.

FIXED DEOSIT PLUS (+) ING Vysya Bank today launched a first-of-its-kind savings product ING FD+; a fixed deposit scheme embedded with several innovations and high interest rates. The scheme, initially rolled out in Bangalore, offers an interest rate of up to 9.5% per
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annum for one-year deposits. This is on the back drop of ING Fixed Deposits being rated as FAAA by the national rating agency CRISIL, which implies highest safety to customers. Delivering innovative products which are easy to manage led to the process of co-creating ING FD+ along with our retail customers. Volatile financial markets, rising property and gold prices have generated a renewed demand for stable financial products with assured returns. Simultaneously, fast paced lifestyle and sudden uncertainty meant clients wanted quick access to their funds and without any charges. Customers of ING FD+ enjoy stable returns of a fixed deposit, complete waiver of the premature closure penalty and a range of features that allow accessibility and high liquidity. The scheme is available for deposits up to Rs 15 lakhs and customers can also do a partial withdrawal of the deposit in units of Re 1. ING FD+ is powered by technological innovations

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such as using a simple SMS to book an FD or check the latest FD rates. Customers can also link the FD with their savings account and activate automatic sweep of funds from the FD, when needed. Customers can therefore withdraw cash from an ATM or write cheques to access their fixed deposit in case of a shortfall in their savings account. Uday Sareen, Country Head - Retail ING Vysya Bank said: "Our brand promise is to deliver innovative, easy products. While Fixed Deposits are probably as old as banking itself, we went back to our customers and asked them to design their ideal savings product. The result is ING FD Plus, our latest, if you may call it, "crowd sourced" offering. This power packed saving solution combines access, freedom, liquidity and peace of mind. You may avail the product through a simple SMS, access money from your FD from an ATM, and not get penalized for any premature withdrawals." Benefits of ING FD+ Book it via SMS Break as much as you need, without penalty Access the FD from our ATM, cheque or branches No preclosure penalty Attractive interest rates on deposits Notes to Editor About ING Vysya

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Bank. ING Vysya Bank Ltd is a premier private sector bank with retail, private and wholesale banking platforms that serve over two million customers.

Introduction: Executive summary of the project

Executive Summary Banking Industry, which is basically my concern industry around which my project has to be revolved, is really a very complex industry. And to work for this was really a complex and hectic task and few times I felt so frustrated that I thought to left the project and go for any new industry and new project. Challenges, which I faced while doing this project, were followingA)Banking sector was quite similar in offering and products and because of that it was very difficult to discriminate between our product and products of the competitors. B)Target customers and respondents were too busy
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persons that to get their time and view for specific questions was very difficult. C)Sensitivity of the industry was also a very frequent factor, which was very important to measure correctly.

D) Area covered for the project while doing job also was very large and it was very difficult to correlate two different customers views in one E) Every financial customer has his/her own need and according to the requirements of the customer product customization was not possible. So above challenges some time forced me to leave the project but anyhow I did my project in all circumstances. Basically in this project I analyzed thatWhat factors are really responsible for performance of ING Banks performance in this competitive era.

Industry status & ING-VYSYA Banks interface

Industry introduction
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The Indian Banking industry, which is governed by the Banking Regulation Act of India, 1949 can be broadly classified into two major categories, non-scheduled banks and scheduled banks. Scheduled banks comprise commercial banks and the co-operative banks. In terms of ownership, commercial banks can be further grouped into nationalized banks, the State Bank of India and its group banks, regional rural banks and private sector banks (the old/ new domestic and foreign). These banks have over 67,000 branches spread across the country in every city and villages of all nook and corners of the land.

The first phase of financial reforms resulted in the nationalization of 14 major banks in 1969 and resulted in a shift from Class banking to Mass banking. This in turn resulted in a significant growth in the geographical coverage of banks. Every bank had to earmark a minimum percentage of their loan portfolio to sectors identified as priority sectors. The manufacturing sector also grew during the 1970s in protected environs and the banking sector was a critical source. The next wave of reforms saw the nationalization of 6 more commercial banks in 1980. Since then the number of scheduled commercial banks increased four-fold and the number of bank branches increased eight-fold. And that was not the limit of growth. After the second phase of financial sector reforms and liberalization of the sector in the early nineties, the Public Sector Banks (PSB) s found it extremely difficult
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to compete with the new private sector banks and the foreign banks. The new private sector banks first made their appearance after the guidelines permitting them were issued in January 1993. Eight new private sector banks are presently in operation. These banks due to their late start have access to state-of-the-art technology, which in turn helps them to save on manpower costs. During the year 2000, the State Bank Of India (SBI) and its 7 associates accounted for a 25 percent share in deposits and 28.1 percent share in credit. The 20 nationalized banks accounted for 53.2 percent of the deposits and 47.5 percent of credit during the same period. The share of foreign banks (numbering 42), regional rural banks and other scheduled commercial banks accounted for 5.7 percent, 3.9 percent and 12.2 percent respectively in deposits and 8.41 percent, 3.14 percent and 12.85 percent respectively in credit during the year 2000.about the detail of the current scenario we will go through the trends in modern economy of the country.

Current Scenario: The industry is currently in a transition phase. On the one hand, the PSBs, which are the mainstay of the Indian Banking system are in the process of shedding their flab in terms of excessive manpower, excessive Non Performing Assets (Npas) and excessive

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governmental equity, while on the other hand the private sector banks are consolidating themselves through mergers and acquisitions. PSBs, which currently account for more than 78 percent of total banking industry assets are saddled with NPAs (a mind-boggling Rs 830 billion in 2000), falling revenues from traditional sources, lack of modern technology and a massive workforce while the new private sector banks are forging ahead and rewriting the traditional banking business model by way of their sheer innovation and service. The PSBs are of course currently working out challenging strategies even as 20 percent of their massive employee strength has dwindled in the wake of the successful Voluntary Retirement Schemes (VRS) schemes. The private players however cannot match the PSBs great reach, great size and access to low cost deposits. Therefore one of the means for them to combat the PSBs has been through the merger and acquisition (M&A) route. Over the last two years, the industry has witnessed several such instances. For instance, HDFC Banks merger with Times Bank , ICICI Banks acquisition of ITC Classic, Anagram Finance and Bank of Madurai. Centurion Bank, IndusInd Bank, Bank of Punjab, Vysya Bank are said to be on the lookout. The UTI bankGlobal Trust Bank merger however opened a pandoras box and brought about the realization

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that all was not well in the functioning of many of the private sector banks. Private sector Banks have pioneered internet banking, phone banking, anywhere banking, mobile banking, debit cards, Automatic Teller Machines (ATMs) and combined various other services and integrated them into the mainstream banking arena, while the PSBs are still grappling with disgruntled employees in the aftermath of successful VRS schemes. Also, following Indias commitment to the WTO agreement in respect of the services sector, foreign banks, including both new and the existing ones, have been permitted to open up to 12 branches a year with effect from 1998-99 as against the earlier stipulation of 8 branches. Tasks of government diluting their equity from 51 percent to 33 percent in November 2000 have also opened up a new opportunity for the takeover of even the PSBs. The FDI rules being more rationalized in Q1FY02 may also pave the way for foreign banks taking the M& A route to acquire willing Indian partners. Meanwhile the economic and corporate sector slowdown has led to an increasing number of banks focusing on the retail segment. Many of them are also entering the new vistas of Insurance. Banks with their phenomenal reach and a regular interface with the retail investor are the best placed to enter into the insurance sector. Banks in India have been allowed to provide fee-based insurance services without risk participation, invest in an insurance company for providing infrastructure and services support and set up of a separate joint-venture insurance company with risk participation.

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Aggregate Performance of the Banking Industry

Aggregate deposits of scheduled commercial banks increased at a compounded annual average growth rate (Cagr) of 17.8 percent during 1969-99, while bank credit expanded at a Cagr of 16.3 percent per annum. Banks investments in government and other approved securities recorded a Cagr of 18.8 percent per annum during the same period. In FY01 the economic slowdown resulted in a Gross Domestic Product (GDP) growth of only 6.0 percent as against the previous years 6.4 percent. The WPI Index (a measure of inflation) increased by 7.1 percent as against 3.3 percent in FY00. Similarly, money supply (M3) grew by around 16.2 percent as against 14.6 percent a year ago. The growth in aggregate deposits of the scheduled commercial banks at 15.4 percent in FY01 percent was lower than that of 19.3 percent in the previous year, while the growth in credit by SCBs slowed down to 15.6 percent in FY01 against 23 percent a year ago. The industrial slowdown also affected the earnings of listed banks. The net profits of 20 listed banks dropped by 34.43 percent in the quarter ended March 2001. Net
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profits grew by 40.75 percent in the first quarter of 2000- 2001, but dropped to 4.56 percent in the fourth quarter of 2000-2001.

On the Capital Adequacy Ratio (CAR) front while most banks managed to fulfill the norms, it was a feat achieved with its own share of difficulties. The CAR, which at present is 9.0 percent, is likely to be hiked to 12.0 percent by the year 2004 based on the Basle Committee recommendations. Any bank that wishes to grow its assets needs to also shore up its capital at the same time so that its capital as a percentage of the risk-weighted assets is maintained at the stipulated rate. While the IPO route was a much-fancied one in the early 90s, the current scenario doesnt look too attractive for bank majors. Consequently, banks have been forced to explore other avenues to shore up their capital base. While some are wooing foreign partners to add to the capital others are employing the M&A route. Many are also going in for right issues at prices considerably lower than the market prices to woo the investors.

Interest Rate Scene

The two years, post the East Asian crises in 1997-98 saw a climb in the global interest rates. It was only in the later half of FY01 that the US Fed cut interest rates.
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India has however remained more or less insulated. The past 2 years in our country was characterized by a mounting intention of the Reserve Bank Of India (RBI) to steadily reduce interest rates resulting in a narrowing differential between global and domestic rates. The RBI has been affecting bank rate and CRR cuts at regular intervals to improve liquidity and reduce rates. The only exception was in July 2000 when the RBI increased

the Cash Reserve Ratio (CRR) to stem the fall in the rupee against the dollar. The steady fall in the interest rates resulted in squeezed margins for the banks in general. Governmental Policy: After the first phase and second phase of financial reforms, in the 1980s commercial banks began to function in a highly regulated environment, with administered interest rate structure, quantitative restrictions on credit flows, high reserve requirements and reservation of a significant proportion of lendable resources for the priority and the government sectors. The restrictive regulatory norms led to the credit rationing for the private sector and the interest rate controls led to the unproductive use of credit and low levels of investment and growth. The resultant financial repression led to decline in productivity and efficiency and erosion of profitability of the banking
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sector in general. This was when the need to develop a sound commercial banking system was felt. This was worked out mainly with the help of the recommendations of the Committee on the Financial System (Chairman: Shri M. Narasimham), 1991. The resultant financial sector reforms called for interest rate flexibility for banks, reduction in reserve requirements, and a number of structural measures. Interest rates have thus been steadily deregulated in the past few years with banks being free to fix their Prime Lending Rates (PLRs) and deposit rates for most banking products. Credit market reforms included introduction of new instruments of credit, changes in the credit delivery system and integration of functional roles of diverse players, such as, banks, financial institutions and non-banking financial companies (Nbfcs).

Domestic Private Sector Banks were allowed to be set up, PSBs were allowed to access the markets to shore up their Cars.

Training on Selling Skills

One day we all summer trainees got a chance to attend a special training session of sales in ING-Vysya Bank. There we come to know the basics of selling. I am very thankful to my seniors especially Gurdeep Singh Sir and Gaurav Sharma Sir who made us to attend this training session. Here are some of the key learnings of that session.
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What is selling? Selling is a process of mutual exchange of goods or services for a value. One of the most effective ways of increasing the organizational profits.

Steps of Selling
Step1: Lead Generation A lead is generally defined as someone who shows an interest in any of the products/services. The aim should be to fill the lead funnel with as many qualified leads as possible to build a strong and valuable database. Step 2: The Commandments of Preparation 1. First impression is important. A customer will form an

opinion of you within the first 30 seconds. You will be judged on: A)Your appearance B) Your attitude C) Your presentation 2. Dress appropriately. Wear clothes that relate to the job you are in. Pay attention to things like hygiene, cleanliness, neat clothing etc. These are important!

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3. Keep copies of product brochures, account opening & other related forms. Circulars 7 any other related references that you may need on your table. 4. Collect background information of the customer (if available). Go through the same prior to the meeting. Plan your questions that you wish to ask. 5. Dont smoke or chew gum prior to any meeting customer. If you are in the habit, best is to wash the mouth with water or any outhwash prior to meeting a customer. 6. Remember to speak in a clear loud voice enough to be heard. 7. Sit up in a chair and lean slightly toward the customer. Show interest in what theyre saying. Try not to do things like cross your arms and lean away. Maintain eye contact and a pleasant expression on your face.

9.Do not let telephone calls disturb you during the conversation. In case of emergency, seek the permission of the customer & try, limit to a minimum and as brief as possible. Learn to make criticism. When your customer to you that you could do a job better or faster,

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recognize these as a way to improve your performance. Step 3: Meeting the Customer A) Introduction

1. Greet the customer cheerfully and politely. Address him/her with their formal name and shake hands. 2. Sit in a position that both of you can see each other clearly. 3. Remember to speak in a clear voice loud enough to be heard. 4. Introduce yourself, the organization, your role and the purpose of todays meeting. 5. Set a timeline for the meeting and ask the customer if he is ok with the time-line. Use the detailer to make the introduction and let the customer choose the product. If you know the background, you can indicate the product that you are detailing and get on with the detailing.

B) Presentation As on the detailer56

Tips for effective presentation 1. Memorize the details on the chart 2. Hold the chart in such a way that its visible to the customer clearly 3. Use a pen/pointer and point out the product and introduces the product. 4. Use a pen/pointer and speak about each of the features of the product. 5. Use a pen/pointer and speak about the advantages comparing the same to the features of the product. 6. Show the charges chart and point to the relevant table for the same. 7. Ask if there are any questions that the customers may have. 8. Ask if the customer is interested in any of the products. Step 4: Closing Get a commitment from the customer in the form of yes or ask for any objections.

Hand over the appropriate form to the customer

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 Run through the various details in the form

Indicate where the customer has to provide additional data. Check for the possibility of the customer needs for other products of the bank. Thank the customer for the time and agree on a new date/time to collect the documents.

What is KYC
KYC is Know Your Customer Guidelines that we need to follow as a bank. Every customer of the bank should necessarily satisfy the KYC norms laid down. How can I do KYC for a lead? When you meet a customer, he should seem what he has KYC is Know Your Customer Guidelines that we need to follow as a bank. Every customer of the bank should necessarily satisfy the KYC norms laid down. How can I do KYC for a lead?

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When you meet a customer, he should seem what he has stated about himself. For example a salaried employee should be able to state the name of the organization and the location of the office easily without having to refer to any document. What documents should I ask for? The prescribe documents as to what has been given in the application form and also in the sales detailer. What should I do when I get the documents? Look at each of the documents and compare with the data given by the customer. If there is any deviation, clarify with the customer immediately. What should I do if the customer has no supporting document? Ask of the customer can get it in a few days time, if no, drop the lead. Whats the impact of not following KYC? The organization faces a reputation risk and the sales executive may face appropriate charges/actions for non-complying with KYC

Research Methodology
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Objective of the study Project study, which is being conducted by me for the last two month, is not only a formality for the fulfillment of the two-year full time Post Graduate Program in Masters in Business Administration. But being a management student and a good intern I tried my best to extract best of the information available in the market for the use of society and people. The objectives are To know about environmental factors affecting ING-Vysya Banks performance. To analyze the role of advertisement for bank performance.

To know the perception and conception of customers towards banking products and specially focused for ING Banks product. To explore the potential areas for the new bank branches which will provide both price and people to the bank with constant promotion and placing strategy. Scope of the Study Each and every project study along with its certain objectives also
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has scope for future. And this scope gives to new searches a new need to research a new project with a new scope. Scope of the study not only consist one or two future business plan but sometime it also gives idea about a new business which becomes

much more profitable for the researches then the older one. Scope of the study could give the projected scenario for a new successful strategy with a proper implementation plan. Whatever scope I observed in my project are not exactly having all the features of the scope, which I described above, but also not lacking all the features. Research study could give an idea of network expansion for capturing more market and customer with better services and lower cost, without compromising with quality. In future customer requirements could be added with the product and services for getting an edge over competitors. Consumer behavior could also be used for the purpose of launching a new product with extra benefits which are required by customers for their

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account (saving or current) and/or for their investments. Factors, which are responsible for the performance for bank, can also be used for the modification of the strategy and product for being more profitable. Factors which I observed while doing project study are following-

1. 2. 3. 4.

Competitors Customer Behaviour Advertisement/promotional activities Attitude of manpower and

5. Economic conditions These all could also be interchanged with each other for each other in banks strategies for making a final business plan to effect the market with a positive way without disturbing a lot to market, customers and competitors with disturbance in market shares. Tools and Techniques As no study could be successfully completed without proper tools and techniques, same with my project. For the better presentation and right explanation I used tools of statistics and computer very frequently. And I am very thankful to all those tools for helping me a lot. Basic tools which I used for project from statistics are62

1.Bar Charts 2.Pie charts 3.Tables Bar charts and pie charts are really useful tools for every research to show the result in a well clear, ease and simple way. Because I used bar charts and pie charts in project for showing data in a systematic way, so it need not necessary for any observer to read all the theoretical detail, simple on seeing the charts any body could know that what is being said. Technological Tools 1.Ms- Excel 2.Ms-Access 3.Ms-Word I

I provided it simply all the detail of data and in return it given me all the relevant information. And in last Microsoft-Word did help me for the documentation of the project in a presentable form. Applied Principles and Concepts While I started to do the project the main thing, which was the matter of concern was that, around what principles I have to revolve my project. Because without having any hypothesis and objective we cannot determine that what output or result we are expecting form the project.
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And second thing is that having only tools and techniques for the purpose of project is not relevant until unless we have the principals for which we have to use those tools and techniques. Mathematical Averages Standard Deviation Correlation Sources of Primary and Secondary data: For the purpose of project data is very much required which works as a food for process, which will ultimately give output in the form of information. So before mentioning the source of data for the project I would like to mention that what type of data I have collected for the purpose of project and what it is exactly. Primary Data: Primary data is basically the live data which I collected on field while doing cold calls with the customers and I show them list of question

for which I had required their responses. In some cases I got no response form their side and than on the basis of my previous experiences I filled those fields. Source: Main source for the primary data for the project was questionnaires, which I got filled by the customers or sometimes filled myself on the basis of discussion with the customers.
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Secondary Data: Secondary data for the base of the project I collected from intranet of the Bank and from Internet. Statistical Analysis In this segment I will show my findings in the form of graphs and charts. All the data which I got form the market will not be disclosed over here but extract of that in the form of information will definitely be here.

Detail
Size of Data Area Type Industry Respondent 100 Amritsar Primary & Secondary Banking Customers

Table1: Correlation between awareness of customers about ING

NO. OF RESPONSE 15 AGE 20 - 25
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25 5 10 11 10 12 2

25 30 35 40 45 50 60

- 30 - 35 - 40 - 45 -50 - 60 Above

TABLE 2: PERCEPTION OF ING AS A BANK

TYPE OF BANK PRIVATE PUBLIC PRIVATE/PUBLIC DON'T KNOW RESPONSES 50 15 25 10
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TABLE 3 : RATING OF CUSTOMERS FOR ING BANK AS A GOOD BANK

PARAMETER EFFICIENCY INTERNET BANKING/ATMs RESPONSES 75% 5%
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PRODUCT RANGE NETWORK PHONE BANKING

10% 5% 5%

TABLE 4: MARKET SHARES OF ING IN BAREILLY IN COMPARISION TO COMPETITORS

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BANK NAME SBI IDBI ICICI PNB HDFC ING OTHERS

% OF SHARE 30% 15% 25% 10% 5% 5% 10%

TABLE 5: FACTORS RESPONSIBLE FOR

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PERFORMANCE OF ING BANK IN BAREILLY

PARAMETERS PRODUCT ADVERTISMENT MANPOWER NET-BANKING PHONE BANKING INVESTMENT SCHEME NETWORK % OF SHARE 50% 5% 25% 2% 5% 10% 3%

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TABLE 6: The effectiveness of COMMERCIALS of ING BANK

DAYS AFTER THE AD IS SEEN 0-5 days 6-10 days 11-15 days More than 15 days POSITIVE RESPONSE 45 15 25 15

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Table 7:Products/Services the customers are presently availing

Savings account Current Account FDR Life Insurance Mutual Fund SIP Lockers Demat Account 35 25 15 5 7 2 5 6

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Table:8 Satisfaction level of the respondents from their respective banks

Highly satisfied Satisfied Neither satisfied nor dissatisfied Dissatisfied Highly Dissatisfied 2 75 15 6 2

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Table 9: No.of Respondents know about ING BANK

Never heard Heard few times Heard frequently 80 15 5

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Table: 10 Kind of Banking services the respondents wish to use

High priority services Preferred services Normal services 25 35 40

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Table 11:Type of investment the respondents like to invest

FDR, NSC Mutual Fund 55 5 5 15 5 5 10

SIP
LI Shares Gold Govt. & Tax saving Bonds

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Table 12: No.of Respondents availing the facility of Locker

Yes No 65 35

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Table 13: Preferences of the respondents at the time of hiring the locker
Safety/Security Operating time Rental/Security charges Locker Size Parking space outside bank 35 15 35 10 5

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Table 14: Categorization of respondents on the basis of Annual Income

< 60000 60000-100000 100000-500000 500000-1500000 >1500000 2 25 65 6 2

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Table 15: Categorization of respondents on the basis of Education

Under-Graduate Graduate Post-Graduate 5 85 10

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Table 16: General impression of the respondents about ING-Vysya Bank

High Quality services & Reliability Average quality services & Dependability Low quality services & Reliability 5 90 5

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Conclusions and Recommendations

Conclusions 1. Customers of Amritsar have enough awareness level about ING Vysya bank as well as about its services and products. 2. The advertising campaign has successfully been able to increase the market share of ING in Amritsar. 3. The modern days technology like Internet banking, phone banking, used by ING bank for providing banking services has sent positive signals in the mind of consumers. 4. The network of ING in Amritsar is lagging behind a little than its competitors like ICICI bank and HDFC bank. 5. It can be distilled from data that ING bank has good market share as compared to its competitors considering the amount of resources deployed by them in the market. 6. It has a very good potential to have the new customers especially the youth because it has the

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Formula a/c, which is very much liked by the youth in the other cities. 7. Most of the residents of Amritsar dont know about the establishment of ING-Vysya Bank in Amritsar.

8. Most of the persons having contacts in big cities know about ING-Vysya Bank very well and also the products. 9. ING-Vysya Bank is providing more facilities to its customers in comparison to other banks such as hospital scheme, investment scheme etc. 10. Locker facilities in ING-Vysya Bank are more modernized in comparison to other banks. 11. Commercials of ING-Vysya Bank have a very deep impact on the minds of people. Even they can remember the name after the 15 days of the telecast of the commercials on television. 12. Operating time for cash counter is from 10 in the morning till 6 in the evening. This is much more than any other bank in Amritsar. 13. ULIP plans are beneficial from the long-term perspective whereas customer should invest in mutual funds if he wants quick returns.

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14. Most of the market is still unaware about the ULIP plans and hence by making proper promotional strategy companies can increase their sales. Findings 1.ING bank has potential a tapped market in Amritsar and hence has opportunities for growth. 2.The products of ING bank have good credibility in the region compare to its competitors.

3.The advertisement of the bank was very effective from the first day of its airing till the fifth day and there after it starts declining. 4.The initial balance for A/C opening is Rs, 5000/- and thats why people are reluctant in opening the same. 5. ING is very much compliance to follow the KYC norms. 6. The size of the locker provided by the ING-Vysya Bank is big in size as compared to other banks. 7. The residents of Amritsar like the products of INGVysya Bank. Most of them need some change. So, they can be the new potential customers for ING Bank. 8. Even today, the people of Amritsar believe in the government banks. For them, ING Bank is a private bank.

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Recommendations 1) More resources should be allocated in the market of Amritsar as there is big untapped market in Amritsar, so it becomes necessary for ING bank for taking an edge over the competitors. 2) A short advertising campaign in Amritsar has produced good results in a short span of times, so to gain long term benefits is very necessary for ING bank to carry on this campaign with more intensity. 3) Besides opening more branches it should also look for opening some extension counter in Rural Areas.

4) As a number of colleges are going to be opened in Amritsar in the next few years, so ING should try to gain some contacts with these colleges. 5) Most of the people in Amritsar wants that they should not stand in queue in bank . If we can convince them on this, than this can open a vast potential market for ING Bank in Amritsar. 6) The cash withdrawal time can be one of the aspects to gain popularity in Amritsar. 7) The benefits provided by the ING Bank to its customers should be advertise so that people can

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understand that customers satisfaction is the main aim for the persons working in ING. 8) The businessman should be convinced on the cash operating time. This makes ING to tap the huge market of Amritsar.

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LIMITATIONS
1. The sample size is very less, hence the responses of just 100 respondents does not imply for the complete population. 2. There was lack of time and resources that prevented from carrying out an in depth study. 3. The findings of the survey are based on the subjective opinion of the respondents and there is no way of assessing truth of the statements. 4. There is some respondents bias, which cannot be removed. 5. Lastly, some amount of error exists in the data filling process because of the following reasons: Influence of others. Misunderstanding of the concept. Hurried filling of the questionnaire.

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Questionnaire
1) Name ____

2) Age 3) Sex 4) Contact No. 5) Education 6) Marital Status

______________ ______________ _______________ ______________ ______________

7) Occupation:

Salaried

Retired

Business wife

House-

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Self-Employed

Student

Agriculture

Others(specify)_________

8) Income P.A.: <60000 60000-100000 100000-500000 500000-1000000 >1500000 9) Your current Bank __________________________ 10) What products/services you are presently availing: Saving a/c Mutual Fund

Current a/c

SIP

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FDR

Equity

Life Insurance

Lockers

Demat a/c

Credit card

Loans 11) How happy you are with the services provided by your existing bank. Highly satisfied Satisfied

Neither satisfied nor dissatisfied Dissatisfied Highly dissatisfied 12) Before this survey, how often had you heard of ING Vysya Bank Ltd. Ive never heard before Ive seen or heard a few times I see or hear frequently
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13) How you came to know about ING Vysya Bank Ltd. TV Commercials Word of Mouth Billboards 14) What are your general impressions of ING Vysya Bank. High quality services and reliability Average quality services and dependability Low quality services and reliability

15) Are you associated with ING Vysya bank Yes No If yes, then please specify

__________________

16) What kind of banking services you generally wish to use High priority services Preferred services Normal services
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17) In which form of investment you invest the most FDR Equity

Mutual Funds

Shares

SIP

Gold

Life Insurance Government saving and tax bonds

18) If you invest in mutual funds more frequently, would you like all your funds to be managed and controlled at a single point rather than scattered. Yes of course I am not sure Its not possible 19) Have you hired a safe deposit locker in any of the bank Yes
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No If yes, then please specify________________________ 20) If you would hire a locker, what will be your preferences (Please rate on 1-5 scale) Safety/Security Operating Time Rental/Safety charges Locker Size Parking Space outside Bank

21) Please give us some references ______________________________________________ ______________________________________________ ______________________________________________ ______________________________________________ ______________________________________________ ______________________________

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Bibliography
1. ING Vysya INTRANET. 2. Information available on INTERNET about ING Vysya Bank.

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